Two other packages, for the international broadcast of the league and non-exclusive rights for certain matches, were still being auctioned off on Tuesday by the Board of Control for Cricket in India (BCCI).

Attracting some of world cricket’s top stars with bumper salaries, the pioneering IPL helped make Twenty20 -- a shorter format of the sport -- hugely popular, attracting hundreds of millions of viewers and spawning copycat events worldwide.

For his bid Ambani, Asia’s richest man, created the Viacom18 joint venture with US giant Paramount Global and an investment group backed by Australian media mogul Rupert Murdoch’s son James, reports said.

Sony, which televised the IPL for the first 10 years after its inception in 2008, had been in the race to get a share of the competition, which recently completed its 15th edition.

Jeff Bezos’s Amazon, which has spent hundreds of millions of dollars on rights for European soccer and American football, had earlier reportedly shown interest in the IPL but pulled out.